Exploration Update

Kefi Minerals plc
01 February 2007


AIM: KEFI                                                        1 February 2007

                               EXPLORATION UPDATE


KEFI Minerals Plc ('KEFI Minerals' or the 'Company'), the gold and copper
exploration company with projects in Turkey and Bulgaria, announces results of
activities since the Company was admitted to AIM on 18 December 2006. During
this period field activities have been accelerated and steps have been taken to
add new exploration licences to KEFI's portfolio.

LEHOVO PROJECT

In southwest Bulgaria, initial encouraging gold results have been returned from
the Lehovo Project. Reconnaissance rock chip sampling has returned encouraging
results in the 8km long northeast-trending structural corridor between the
Kazaniteh and Touchi Dol prospects. Mineralisation is hosted in a series of
stacked quartz-sulphide veins and best results include 7.6g/t gold and over 
100g/t silver.

ARTVIN PROJECT

In Turkey, reconnaissance rock chip sampling results from the Uzumlu prospect in
the Artvin Project area has also returned positive results of up to 0.5g/t gold
and 104g/t silver. The prospect is part of a recently identified 4km long
alteration zone in volcanic rocks. This belt of volcanic rocks is host to the
giant copper-gold deposits at Cayeli (19 million tonnes at 4.2% copper, 6.5%
zinc and 0.8g/t gold), Murgul (80 million tonnes at 1.1% copper) and Cerateppe
(2.8 million tonnes at 5.1% copper).

DATABASE

KEFI Minerals has intensified the field reconnaissance of its proprietary
database which contains extensive information about precious metal and base
metal geology and mineralisation in Turkey. This database was built by a large
team of epithermal and porphyry experts from Australia and the Directors of KEFI
Minerals believe it has a current replacement cost exceeding £1.5 million. A
number of highly prospective areas have been identified that are not currently
held under licence by other companies.

The Company is competing in government-administered tenders of Exploration
Licences in Turkey on selected areas that contain advanced exploration
prospects. KEFI Minerals has already successfully bid for one licence and has
lodged an application for another where previous rock chip sampling and stream
sediment sampling had identified anomalous gold and silver. Further information
on these licences will be reported to shareholders when the legal formalities
are completed, which should take under two months.

KEFI Minerals' Managing Director, Jeff Rayner, commented:
'We are moving quickly with our focused approach to adding value. This has been 
made possible utilising the exploration database acquired from EMED Mining which 
covers approximately 100 locations in Turkey. Interpretation of this data has 
enabled KEFI Minerals to narrow its exploration efforts to the most prospective 
areas of Turkey and move quickly as opportunities arise.'

                                     -Ends-

Enquiries
KEFI Minerals            WH Ireland            Bishopsgate Communications
Jeffrey Rayner           Laurie Beevers        Maxine Barnes
                         Katy Mitchell         Nick Rome
[phone]          [phone]      [phone]
www.kefi-minerals.com


References in this announcement to exploration results and potential have been
approved for release by Messrs Jeff Rayner, Managing Director of KEFI Minerals
and Ron Cunneen, Head of Exploration for EMED Mining Group. Both individuals
have more than 15 years' relevant experience in the field of activity concerned.
Ron Cunneen is a member of The Australian Institute of Geoscientists ('AIG') and
Jeff Rayner is a Corporate Member of the Australian Institute of Mining and
Metallurgy ('AUSIMM'). Both have consented to the inclusion of the material in
the form and context in which it appears.


Notes to Editors:

KEFI Minerals was formed on 24 October 2006 for the purposes of holding EMED
Mining's exploration interests in Turkey and Bulgaria with a view to creating
shareholder value through the discovery and exploitation of gold and copper
deposits.

In November 2006, KEFI Minerals completed the acquisition of EMED Mining's
Turkish and Bulgarian exploration interests through the acquisition of EMED
Mining's subsidiary Mediterranean Minerals (Bulgaria) EOOD. In addition, KEFI
Minerals acquired from EMED Mining a database of mining information relating to
Turkey.

KEFI Minerals commenced trading on AIM on 18 December 2006, following the
successful placing of 46,666,667 shares at 3p to raise £1.4 million. KEFI
Minerals' market capitalisation was £2.7 million at the placing price on
admission to AIM.

In Turkey, KEFI Minerals has two initial exploration projects:

  • At Artvin in northeastern Turkey, areas of extensive hydrothermal
    alteration have been recognised in the project area, and there is evidence
    of historical workings indicating potential for economic mineralisation.
  • At Gumushane in eastern Turkey, areas of extensive hydrothermal
    alteration have been recognised in the project area, as well as coincident
    areas of interest identified through interpretation of Aster data.

KEFI Minerals also has an extensive exploration database which contains
information about approximately 100 further prospective sites in Turkey. This
database provides the Company with a competitive advantage to identify
prospective areas for project generation in Turkey. Procurement of new
prospective licences has commenced and monitoring of the exploration licence
status of geologically prospective areas will be carried out on an ongoing basis
so that KEFI Minerals can acquire further exploration opportunities as soon as
they become available.

In southern Bulgaria, reconnaissance work in the Lehovo Project area has
identified a structural corridor with a strike length of approximately eight
kilometres with the potential for gold and base metal mineralisation.

EMED Mining has agreed to provide technical and administrative systems and
personnel to KEFI Minerals on a cost-recovery basis, thus enabling KEFI Minerals
to reduce overheads and spend more on exploring Turkey and Bulgaria.

KEFI Minerals' Board of Directors is comprised of Mr Harry Anagnostaras-Adams
(Chairman), Mr Jeffrey Rayner (Managing Director), Professor Ian Plimer (Deputy
Chairman) and John Leach (Finance Director).

Further information on KEFI Minerals is available at www.kefi-minerals.com and
the Company's AIM code is 'KEFI'.




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